Demyelination is the pathological hallmark of multiple sclerosis (MS) lesions. The concept of remyelination has gained acceptance in recent years, but naturally occurring remyelination is incomplete. To improve repair processes, a number of strategies have been explored experimentally and clinical trials are being carried out. In principle, remyelination can be achieved by either promoting endogenous repair mechanisms or by providing an exogenous source of myelinating cells via transplantation. Both approaches have been successful in animal models of demyelination. In addition, many studies have elucidated the principal mechanisms of oligodendrocyte biology and remyelination in the central nervous system (CNS). Here, we review the neuroscientific background to the development of strategies for myelin repair and draw on a variety of more recent experimental findings to speculate on the likely evolution of remyelinating therapies in the future.